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Sprint’s Total Equipment Protection coming to iPhone

Sprint will begin allowing iPhone users to sign up for its Total Equipment Protection plan on Jan. 25, according to a new report. Initially not offered for the iPhone, Sprint will now give customers the option of adding TEP up to 30 days from the date of purchase, for a monthly charge of $11. An alternative for Sprint iPhone owners to the hardware protection offered by AppleCare+, the Total Equipment Protection plan allows up to three claims within any consecutive twelve-month period and covers accidental damage as well as loss or theft of the covered device. Deductibles under the TEP plan are based on the price of the device, effectively $150 for the iPhone 4/4S and $200 for the iPhone 5. By comparison, Apple sells its own AppleCare+ coverage for a one-time $99 up front price and allows two claims of accidental damage with a deductible of $50 per claim, with no coverage for loss or theft. The normal out-of-warranty replacement cost for an iPhone 5 is $229. [via Engadget]